Advisors feel that social media is a "wise use" of asset managers' time and resources and just over one-third believe asset management firms are "not yet seeing the value" of social media, according to a study by American Century Investments.

LinkedIn groups were the "most important" social media offering an asset manager can provide, according to nearly one out of four advisors, followed by "providing an advisor community" for nearly one out of five, and a Facebook page for slightly fewer respondents.

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